Meaning of the word "trade negotiation" in English

What does "trade negotiation" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

trade negotiation

US /treɪd nəˌɡoʊ.ʃiˈeɪ.ʃən/
UK /treɪd nəˌɡəʊ.siˈeɪ.ʃən/
"trade negotiation" picture

Noun

formal discussions between representatives of different countries or organizations to reach an agreement on trade terms

Example:
The latest round of trade negotiations focused on reducing tariffs.
A successful trade negotiation could open up new markets for local farmers.